UK STEEL SCRAP WEEKLY: Light iron market hits 2020 high, more gains expected

Prices for inter-merchant light iron scrap in the UK market were higher over the week to Friday November 20, adding to gains made the week before amid strong European export markets to Turkey and the Indian subcontinent, sources told Fastmarkets.

The British light iron market was likely, along with monthly delivery settlements to domestic consumers in December, to climb more firmly in the near term if current conditions persisted, the sources added.
Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was £100-115 ($132-152) per tonne on November 20, widening upward by £5 per tonne from £100-110 per tonne a week earlier, and hitting a 2020 year-to-date peak.

Some sources suggested that the market was mostly steady week on week...


Declan Conway

November 20, 2020

17:50 GMT